we'll get the color from that. ed morse from citi will give us his forecast. a lot to cover tonight at 5:00. >> we'll talk finance ministers in a few minutes. >> oh, yes. >> we've not gotten there yet. if you're just joining us this morning, here's what you missed. >>> welcome to hour three of "squawk on the street." here's what's happening so far. >> that announcement being confirmed from the vatican, pope benedict is due to resign february the 28th. >> uncertainty in the economy and sluggishness in the economy gives you center of a friendly fact. >> we did a lousy job in january on the tax side. i think it's better to go over the cliff than do a lousy job. >> rarely to these -- rarely do these oppositions result in a deal being voted down. it is something at least worthy of keeping an eye on. >> president obama seems to have pulled the republicans fangs with respect to the debt ceiling. that's probably the big risk the market was worried about. >> all night long, this is what it heard. beep, beep, beep. yes. snow plows. >> this is the opening bell on monday